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Speaking at the Crawford Australian Leadership forum in Canberra on Monday, Philip Lowe also took aim at the ongoing gridlock of the Australian political system, blaming it for lost opportunities and stifling economic growth.

"There is a shortage of good ideas that can successfully navigate the political process," Dr Lowe said.

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"It is important that we have a sharp focus on the reforms that can make a real difference to our living standards, If we don't do this, we will fall behind."

His remarks come as the Turnbull government looks to negotiate the Gonski 2.0 schools funding package through the Senate.

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Dr Lowe said investment in human capital through education was the key to driving the economy forward. He expected the economy to pick up after a sluggish start to the year once the "animal spirit starts to come back."

The central bank's optimism on the outlook is a major reason it has resisted pressure for another cut in interest rates, which are already at record lows of 1.5 per cent.